BlackRock’s IBIT Makes First Bitcoin Purchase in 7 Days

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So, after a six-day streak of outflows—like a bad sitcom that just won’t end—BlackRock, the big cheese of asset management, finally decided to stop the bleeding in the Bitcoin ETF market. They made a comeback by purchasing Bitcoin. I mean, who knew they had it in them? 🎉

BlackRock’s market influence amid ETF outflows

According to Farside Investors’ data—because who doesn’t love a good statistic?—BlackRock’s IBIT recorded a whopping $38.9 million in Bitcoin inflows. This little miracle prevented the ETF market from experiencing a third consecutive day of cumulative outflows. Talk about a hero! 🦸‍♂️

Meanwhile, everyone else was just sitting there with their thumbs up their… well, you know. On March 5, all other asset managers recorded zero flows, except for Bitwise and Invesco, who managed to outflow $6.9 million and $9.9 million, respectively. Great job, guys! 👏

Now, for BlackRock, this purchase comes right after they offloaded a staggering $1.252 billion worth of Bitcoin in the last week. I mean, who needs that much Bitcoin anyway? It’s like having too many shoes—eventually, you just trip over them! 👟

They were offloading Bitcoin in the hundreds of millions for five days straight. The highest outflow? A jaw-dropping $418.1 million. The lowest? A measly $78 million. And then, poof! Zero outflow. It’s like they were playing a game of hot potato! 🥔

Analysts are saying this marks a welcome shift in the ETF market. They think it might be because of the recent outflow trend, which has been giving institutional investors some serious heartburn. 🍔

Larry Fink’s 2025 market outlook

Some market watchers are speculating that the recent outflow trend could be due to broader financial market uncertainties. And here comes Larry Fink, CEO of BlackRock, with his crystal ball, predicting that 2025 is going to be a wild ride. Turbulence, but hey, a boom is likely too! 🎢

Fink’s advice to investors in digital assets like Bitcoin? Buy a “big dip” if you see one. So, basically, he’s saying, “Hey, wait for the price to drop and then jump in!” Sounds easy, right? 🙄

As of now, Bitcoin is trading at $91,278.22, which is a 1.08% increase in the last 24 hours, according to CoinMarketCap. It was previously at a low of $87,599.07 before this little rise. So, there you have it! 📈

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2025-03-06 16:42